Prenump

[Guest Post] Is Getting a Prenup a Wise Financial Decision?

Gen Y Finance Guy General Information 9 Comments

Today we have a guest post on the topic of prenups, a topic that has the potential to sour the romantic nature of relationships. I still remember a guest that attended my wedding reporting back to me that my grandmother had just said “I hope he got a prenup.” The funny thing is most people probably misunderstand exactly what a prenump is and what it does. My grandmother also didn’t realize that my newly wife was actually bringing more financial assets to the relationship than I was at that time. My wife and I never really had a reason to consider a prenump, because neither of us had much in the way of assets, and everything we did build in …

Focus

FOCUS: Follow One Course Until Success

Gen Y Finance Guy Words To Live By

Do you find yourself getting distracted from the core of what you set out to accomplish this year? If so, it’s an appropriate time to remind you to FOCUS and to recite what this acronym stands for: Follow One Course Until Success It’s natural to get off course. If you think about it, a space craft headed to the moon is only on course 1% of the time. The remaining 99% of the time it is actually course-correcting, buffeted off a straight trajectory by unforseen factors and occurrences, redirecting itself back on track to its destination. The important thing is that the space craft has the right systems and disciplines in place to redirect back towards the goal when it gets off course. Like the space …

Top 5% Income Earner

Income Across the USA – What Does It Take To Be In The Top 5%? Top 1%?

Gen Y Finance Guy Financial Analysis

As the income of the GYFG household has continued to grow, being the data-obsessed fellow that I am, I started to wonder where we ranked against other earners across the United States. Most people benchmark their investment returns, so why not benchmark our income? Lucky for us, the NY Times has made this extremely easy with the interactive tool they created (based on data from 2012, a little dated, but should be close enough). (Sidebar: I continue to believe that we live in the best time in history for making money. It has never been easier. THE INTERNET HAS CHANGED EVERYTHING!!! Although I recognize that inequalities still exist, the entry barrier to earning big has never been so low, nor has the …

February 2017 Financial Report

February 2017 – Detailed Financial Report #26 – Net Worth $532,590 | Income $23,893

Gen Y Finance Guy Monthly Financial Reports 14 Comments

GYFG here checking in for the February monthly financial report. If you have been reading these reports for a while you will notice that I introduce each month with the same intro month after month. I do this for two reasons; a) for the newbies to the site (which make up about 50% of the sites traffic); and b) to remind everyone what these reports are all about. By all means if you have read the intro at least once, then please feel free to skip down to the “Summary of February 2017” section where the new content begins (click the orange link to be taken there automatically). For those of you that are new around this corner of the internet, I …

PeerStreet Review

PeerStreet – Hard Money Lending For The Retail Investor

Gen Y Finance Guy Investing 47 Comments

I’m absolutely stoked to share the details of my recent visit with the founders of PeerStreet and what I’m dubbing my favorite investment of 2017 and beyond. This is going to become a very substantial piece of my overall asset allocation. It’s not often I get very excited about an asset class, but this is different, because PeerStreet is in a league of their own. My first introduction to PeerStreet was back in May of 2016, when Mr. Money Mustache himself wrote about his new investment experiment on the PeerStreet platform. Although I was immediately interested, my wife and I had just made a $50,000 hard money loan the old fashioned way (i.e., big chunk of capital, a huge concentration of …